American retailers head for UK, despite downturn
Sunday 03 July 2011
Crate & Barrel, the US homeware chain, is just one of a handful of overseas retailers heading for London to open new stores, despite tough times on the high street.
The Chicago-based, German owned company is planning to bring CB2, a smaller version of the Crate & Barrel concept, to the UK and is in talks with UK landlords to find small 5,000 sq ft stores. Until recently, Crate & Barrel had been reluctant to head to the UK due to the high rent required to secure a store.
CB2 is joined by Marmot, a Californian-based outdoor clothing and equipment retailer that was founded in the 1970s. It is set to open stores in London and the South-east.
Coming from Europe, Spain and Portugal are supplying two new fashion clothing brands to the UK. The Spanish young fashion chain, Coolway, is close to signing leases for two stores in London and Bluewater, while the Portuguese group, Sacoor Brothers, has also entered into agreements to open shops in the South-east.
Overseas retailers have long been a source of variety for the UK's city and shopping centres.
US retailers American Eagle, Victoria's Secret and Forever 21 are all planning new stores in the UK, and last week the New York-based womenswear brand Kate Spade signed up for a 10-year lease on a Sloane Square store, which will open in September.
The retail property expert, Hugh Radford at DTZ, said: "London is a safe bet to begin expansion if you are an overseas retailer. It is seen as a stepping stone to Europe for the US retailers and vice versa for European retailers. There are plenty of opportunities for retailers to expand here."
Despite the recent spate of administrations in the UK, landlords found most retailers paid their rent on time in spite of the difficulties.
Tim Leatham, director of shopping centre management at Savills, said: "We have hit 95 per cent collection rate levels seven days after quarter day on the majority of the centres we manage. It is unfortunate some retailers have gone into administration, but the vast majority of retailers have paid their rent on time and in full."
- 1 Which country would be hardest to invade?
- 2 The man who filmed the Freddie Gray video has been arrested at gunpoint
- 3 Indonesia executions: Death row British grandmother Lindsay Sandiford will refuse to wear a blindfold when she faces firing squad
- 4 How the language you speak changes your view of the world
- 5 Royal baby girl born: Duchess of Cambridge's second child will be a princess thanks to Queen
Over 50,000 families shipped out of London boroughs in the past three years due to welfare cuts and soaring rents
EU asylum policy is 'a direct threat to our civilisation', says Nigel Farage
The Rothschild Libel: Why has it taken 200 years for an anti-Semitic slur that emerged from the Battle of Waterloo to be dismissed?
General Election 2015: SNP and its activists 'openly racist' towards the English, Farage says
General Election 2015: UK will be 'run for the wealthy and powerful' if Tories retain power, Labour warns
Schools forced to act as 'miniature welfare states' with teachers buying underwear and even haircuts for poor pupils
iJobs Money & Business
£16000 - £18500 per annum: Recruitment Genius: This is an excellent opportunit...
£24000 - £28000 per annum: Recruitment Genius: A Senior SEO Executive is requi...
£16000 - £18000 per annum: Recruitment Genius: An Online customer Service Admi...
£18000 - £22000 per annum: Recruitment Genius: This global, industry leading, ...